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A true copy

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Clerk of the Circa-I; . 
Carroli Cum-y, 1.23:; .

LAST WILL AND TESTAMENT OF

WILLIAM J. DAVIS

 

I, WILLIAM J. DAVIS, of the City of Mt. Carroll, Illinois,

declare this to be my Last Will and Testament, and I hereby revokei


any and all former Wills and Codicils by me made. 

FIRST: I direct my Executor hereinafter named to pay and

discharge all legal obligations of my Estate.

SECOND: I give and bequeath to the Endowment Fund of the

ZION GROVE CEMETERY ASSOCIATION the sum of TWO THOUSAND DOLLARS


THIRD: I give and bequeath to HELEN DAVIS of the City of

Mt. Carroll, Illinois, the sum of TWO THOUSAND DOLLARS 



FOURTH: All of the rest, residue and remainder of my propert:



both real and personal, and wheresoever situated, I give, devise

and bequeath to FRANCIS E. WEIDMAN of the City of Mt. Carroll,

Illinois, or his Successor, as Trustee, upon the following Trusts:
a. The Trustee shall pay annually to CLARENCE DAVIS of

the City of Mt. Carroll, Illinois, the sum of TWO

THOUSAND DOLLARS said annual payments

to commence one (1) year after my death.

The Trustee shall pay annually to HERBERT F. DAVIS

of the City of Oregon, Illinois, the sum of TWO

THOUSAND DOLLARS said annual payments to

roommence one (1) year after my death.

c. The Trustee shall pay annually to HELEN GRACE MARTH

of the City of Mt. Carroll, Illinois, the sum of TWO

THOUSAND DOLLARS said annual payments to

commence one (1) year after my deathraggamglnai on file in my of?ce M1 stud
misx? day of 

 

 

d.

f.
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and support of such beneficiary, then the Trustee may





a

In the event that the net income from said Trust in

any year is not sufficient to make the annual payments
to the beneficiaries under sub?paragraphs a, b, c, e, 
and of this Article, then in that event, the Trustee
shall reduce ratably the payments to be made under said
sub?paragraphs so as not to exceed the amount of_the
net income for such year.

In the event that HERBERT F. DAVIS shall die before the
termination of this Trust, then his share hereunder shall
be paid to his descendants per stirpes.

In the event that HELEN GRACE MARTH shall die before the
termination of this Trust then her share hereunder shall
be paid to her descendants per stirpes.

In the event that CLARENCE DAVIS shall die before the
termination of this Trust, then all payments to be made
to the said CLARENCE DAVIS shall cease, and the Trustee
shall only make the payments as provided in the fore-
going sub?paragraphs b, c, d, e, and of this Article
until the termination of this Trust as herein provided.
If from time to time in the opinion of the Trustee the
sums of money payable to CLARENCE DAVIS under the prior
provisions of this Trust are insufficient, together with
such other income available to the said CLARENCE DAVIS
and known to the Trustee,to meet any unusual expenses
caused by illness, accident, or other unexpected mis-

fortune, or to provide for the maintenance, welfare,

pay to such beneficiary, from the income and if it is

insufficient from the principal of this Trust, such sums
as he deems necessary for such purposes, and the judgment
of the Trustee as to the propriety and amount of such

payments shall be conclusive; provided however, that the

 

total payments to be made under all of the provisions of

'mmw-r I'M-vulv-r-u . me .-  .. 

this Trust in any one year to CLARENCE DAVIS shall neverl
exceed the sum of EIGHT THOUSAND DOLLARS  
i. The payments provided for under the provisions of this
Trust shall only be made to the beneficiaries thereof
and no disposition, charge, or encumbrance of the right
to such payments by any beneficiary hereunder, whether
such payments be in the possession of the Trustee for
payment, or by anticipation, shall be of any validity or
legal effect or be in anywise regarded by the Trustee,

and no right to such payment or any part thereof, shall

 

in anywise be liable to any claim of any creditors of
any such beneficiaries.

j. This Trust shall terminate upon the death of the last
to survive of CLARENCE DAVIS, HERBERT F. DAVIS and HELEN

GRACE MARTH.

it k. Upon the termination of this Trust all of the then re-

maining principal and accumulated income of said Trust

shall be divided as follows:

1. SEVEN PERCENT thereof shall be paid to the
ILLINOIS MASONIC HOME at Sullivan, Illinois, a
Home for the aged, and such payment shall be used
by such home for charitable purposes.

2. SIX PERCENT thereof shall be paid to the ILLI-
NOIS MASONIC HOME at LaGrange, Illinois,
and such payment shall be used by such Home for
charitable purposes.

FIVE PERCENT thereof shall be paid to the
Mr. CARROLL FIRE PROTECTION DISTRICT.

4. TWO PERCENT thereof shall be paid to CYRUS LODGE,
No. 118, A. F. A. M., of the City of Mt. Carroll,

Illinoiso

 

 

 

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THIRTY PERCENT thereof shall be paid to
SHRIMER COLLEGE, a non?profit educational corpora-
tion, having its campus and principal buildings in
the City of Mt. Carroll, Illinois.

FIFTY PERCENT thereof shall be paid to the
CITY OF MT. CARROLL, ILLINOIS, to be used by said
City in the erection and equipping of a Community
Building for the use and enjoyment of the inhabitant
of the City of Mt. Carroll, Illinois, said building
to be called the WILLIAM DAVIS COMMUNITY BUILDING,
and the plans and specifications for said building
and its equipment are to be first approved by the
person acting as the Trustee at the time of the
termination of this Trust; and any funds remaining
after the erection and equipping of said building
are to be invested by the said City of Mt. Carroll,
Illinois, and the income from such investment used
for the maintenance and up?keep of such building.

In the event that any of the foregoing gifts in sub-
paragraphs 1 through 6 hereof inclusive, shall fail
for any reason, then the gift or gifts which have
failed shall be divided ratably between the other
foregoing charities, homes, corporations, and muni-
cipal corporationslisted in sub?paragraphs l, 2, 3,
5, and 6 hereof,which are still in existence upon
the termination of this Trust and are willing and
able to accept the gifts herein given them; it being
my express intention by this sub?paragraph 7 that
there shall never be any lapse or undiSposed of
portion_of my Estate or said Trust, and that the
said CYRUS LODGE shall never take more than TWO PER-

CENT of the all principal and accumulated in-

-

 

 

 

 

 

 

come of the Trust at its termination.

L.
i

FIFTH: During the minority, or incapacity of any beneficiary
to whom payments are to be made under the provisions of the Trust
created in Article FOURTH of this Will, the Trustee may make such
payments in anyone or more of the following ways, to-wit:

a. Directly to the beneficiary;

b. To the legal guardian or conservator of the beneficiary;

o. By expending the same for the purposes as set forth in

said Trust.

SIXTH: The Trustee in the administration of the Trust created
in Article FOURTH of this Will, shall have the following powers,
authorities and discretions:

a. To sell at public or private sale, exchange,lease for
any period of time not exceeding ninety-nine (99) years,
mortgage or pledge, any property, real or personal, at
any time constituting a portion of the Trust, upon such
terms as the Trustee shall deem wise.

b. To invest any money in the Trust in such bonds, common
or preferred stocks, notes, real estate mortgages, or
other securities, or in such other property, real or
personal, as the Trustee shall deem wise without being
limited by any Statute or Rule of Law regarding invest-
ments by Trustees.

c. To retain, without incurring any liability, as invest-
ments of the Trust, any preperty owned by me at the time
of my death, as long as the Trustee shall deem wise,
even though such property is not the kind of property
the Trustee would purchase as a Trust investment and
even though to retain such property might violate sound

investment diversification principles.

 

 

 





 

GO

 

 

n. ?a 5-2. .. .. .

To cause any stock, security or other property which
may at any time constitute a portion of the Trust to
be registered in his name without disclosing a Fiduciary
relationship, or in the name of a nominee.

To vote any corporate stock or other security of the
Trust either in person or by proxy for any purpose; to
consent to the reorganization, merger, consolidation,
recapitalization, readjustment of the financial structure,
or sale of the assets of any corporation or other organd
ization, the stock or securities of which constitute a
portion of the Trust, and to take any action with-reference
to such stock or securities which in the opinion of the
Trustee is necessary to obtain the benefit of any such
reorganization, merger, consolidation, recapitalization,
readjustment or sale; to exercise any conversion, priv-
ilege or subscription right given to the Trustee as the
owner of any stock or security constituting a portion
of the Trust; to hold as a portion of the Trust the
stock or securities resulting from any such reorganiza-
tion, merger, consolidation, recapitalization, readjust-
ment, sale, conversion or subscription.

To pay all taxes and expenses incurred in the administra

tion of the Trust, including a reasonable compensation
to the Trustee and to his counsel or agents.

To charge and credit receipts and disbursements to and
against income and principal in any manner which the

Trustee deems fair regardless of the provisions of the

 

Illinois Principal and Income Act.
To do all other acts which in the judgment of the Trustee


are necessary for the proper management, investment and
distribution of the Trust.
The Trustee shall not be required to give any bond what,

soever for the performance of his duties as such Trustee.

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.. .

SEVENTH: 'No purchaser, pledgee, assignee, or mortgagee of
any of the property under the Trust created by Article FOURTH of
this Will shall be required to see to the application of the pur?
chase money or monies borrowed or advanced, or be obligated to
see that the terms of the Trust have been complied with, or to
inquire into the necessity or the expediency of any act of the
Trustee or any limitations or restrictions on the power and
authority of the Trustee; and every deed, trust deed, mortgage,
assignment, note, or other instrument executed by the Trustee
shall be conclusive evidence in iavur of any person relying upon

or claiming thereunder that:

a.

EIGHTH: If for any reason FRANCIS E. WEIDMAN can not act

or continue to act as Trustee under the Trust created by Article



At the time of the delivery thereof the Trust created
under this Will was in full force and effect;

Such conveyance or other instrument was executed in

accordance with the Trust, conditions, and limitations
contained in this Will in relation to said Trust, and
shall be binding upon all beneficiaries under said Trust;
Said Trustee was duly authorized and empowered to
execute and deliver such instrument; and,

If the conveyance is made to or by a successor or

successors in Trust, such successor or successors in

 

Trust have been properly appointed and are fully vested%
with all the title, estate, rights, powers, authoritiesJ
i

duties and obligations of his, its, or their predecessor

in Trust.

 



I

FOURTH of this Will, then 1 appoint ELVER EISFELLER of the City 0?

Mt. Carroll, Illinois, as the First Successor Trustee; in the event

that ELVER EISFELLER can not act or continue to act as such suc-

cessor Trustee, then I appoint KENNETH FREEMAN of the City of Mt.f

Carroll, Illinois, as the Second Successor Trustee under the Trust

a: -
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created by Article FOURTH of this Will; in the event that prior tm
the termination of the Trust created under Article FOURTH of this?
Will there is no Trustee or Successor Trustee named herein who is?
able to act or to continue to act as such Trustee, then a Successoh
1 Trustee or Trustees shall be appointed by the Circuit Court of
Carroll County, Illinois, it being my desire that the Judge of
said COurt in making any such appointment shall appoint some
reputable citizen of the City of Mto Carroll, Illinois; and who-
ever shall act as Successor Trustee under the Trust created by

Article FOURTH of this Will, either by an appointment under the

terms of this Will or by an appointment of the Circuit Court of

 

 

 

Carroll County, Illinois, shall have all of the rights, powers,

9 authorites and discretions conferred under this Will to FRANCIS

E. WEIDMAN as the First Trustee, and shall have the power to accept
the property delivered by the predecessor Trustee as constituting
the entire Trust, and is granted full power to compromise or to

abandon entirely all claims, or rights of action against such

 

a predecessor Trustee, all upon such terms as the Successor Trustee

I

deems advisable, and he shall incur no liability to any beneficiary

by so doing.

4 NINTH: I hereby direct the Trustee of the Trust created
5 under Article FOURTH of this Will to allow CLARENCE DAVIS, for as
i long as the said CLARENCE DAVIS shall desire to do so, to continue

to live on my farm consisting of approximately 439 acres, situated

in Sections 7, 18, and 17 in Woodland Township, Carroll County,

Illinois, and to also continue to operate the said farm on the

same arrangements which CLARENCE DAVIS has with me at the time of

the making of this Willa

TENTH: I hereby appoint FRANCIS E. WEIDMAN as the Executor

of this My Last Will and in the event that he predeceases me, or

 

fails, or refuses, or is unable to act as such Executor, then I

 

-. ?Tr?u . ..,

 

 

 

 

 

 

Inv?w?v?c-nm . mp-- .

lrights, powers, privileges and authorities given to my Executor by

formance of his duties as such Executor.

1.

appoint ELVER EISFELLER of the City of Mt. Carroll, Illinois, as

such Executor. It is my express intention and this Will shall be

so construed that whoever acts as Executor shall have all the
the terms of this Will. I hereby direct that no bond or other

security shall be required of my Executor for the faithful per?

ELEVENTH: I hereby give to my Executor_the following powers,
authorities and discretions to be exercised, if he shall choose
without Order of the Court; to-wit:

a. To sell at any time, at public or private sale, mortgage
or lease, the whole or any part of the real or personal
property of my Estate on such terms and conditions as he
shall determine.

To settle claims in favor of, or against my Estate as

he shall deem best.

To exercise the same powers, authorities, and discretions

I

over the Estate during the period of its probate adminis
tration as are hereinbefore given under Articles SIXTH
and NINTH to the Trustee of the Trust created under
Article FOURTH of this Will.

To exercise or to refuse to exercise any rights of
election or options granted to Executors under the
Internal Revenue Code in force at my death or under any
Federal Law, or under any law-in the State of Illinois,
or of any other State in force at my death, even though
the effect of exercising or refusing to exercise such
rights of election or options will be either to reduce
the value of the Trust created hereunder or to benefit
or detriment a beneficiary of the Trust, or to increase

the aggregate taxes and charges payable by the Estate

 

over the amount thereof which would otherwise be payable:

'3 go re, . 
[in I 
had the Executor exercised or refused to exercise such

rights of election or options. The decision of the

Executor as to whether to exercise or to refuse to

I exercise such rights of election or Options shall be

I made in his sole discretion, and the Executor shall

. suffer no liability to any beneficiary or to any other

3 party on account of any decision which he makes under
the power granted in this sub?paragraph.

d. To execute and deliver any deeds, contracts, mortgages,
assignments, bills of sale, or other instruments necessary
or desirable in order to exercise the powers, authorities,
and discretions granted in sub-paragraphs a through 

of this Article.

IN WITNESS WHEREOF I have set my hand to this my Last Will,

iconsisting of ten (10) pages, including this page, and on the

 

 

gmargin of the first nine (9) pages, I have attached my initials

 

?for the greater security and better identification this 'Zf?2Day

gof APRIL, A. 0., 1962.





E: Li}. 9 
i I

i We, the undersigned, hereby certify that the foregoing instru1
Ement, was on the date thereof, signed, published and declared by

Ethe Testator, WILLIAM J. DAVIS, as his Last Will, in the presence 3

?of each of us, who at his request and in his presence and in the

?presence of each of us, have subscribed our names hereto as

14

?witnesses to the execution thereof, believing the said Testator,

 

J. DAVIS, at the time of so signing to be of sound mind

hand memory and under no constraint or undue influence whatsoever.

I I 
1

  9mg, qthgammge 3%

I

Address?

a?Equo

i


 

 

 

 

 

 

 

 

 

 

 

CODTCII. TO THE LAST WILL AND TESTAMENT 0F
WILLIAM J. DAVIS
I, WILLIAM J. DAVIS, of the City of Mt. Carroll, Illinois,
declare this to be my Codicil to My Last Will and Testament,
dated April 7, A. D., 1962.

FIRST: I give and bequeath to HELEN GRACE MARTH of the Cit

of Mt. Carroll, Illinois, all of my clothing, wearing apparel,
jewelry and my household goods and furnishings, including, but
not limited to, all of my appliances, dishes, glass ware, 
silver, linens, blankets and pictures.

LASTLY: I ratify and re?affirm all other provisions of my

said Last Will and Testament.

DATED THIS 4th DAY OF DECEMBER, A. D., 1963.

We, the undersigned, hereby certify that the foregoing instru-
ment was on the date hereof signed, published and declared by the
Testator, WILLIAM J. DAVIS, as his Codicil to his Last Will and
Testament, dated April 7, 1962, in the presence of each of us,
who at his request and in his presence and in the presence of each
of us, have subscribed our names hereto as witnesses to the
execution thereof, believing the said Testator, WILLIAM J. DAVIS,
at the time of so signing to be of sound mind and memory and under

no constraint or undue influence wh oever.

 

 

 

 

 

 

 

 

 

 

 

?cursed In 


?Atlas;
1. day ol .1

.- 
:91,   
ulcrl: cf the Circull Court 15. Judicial Circuit 

Carroll County. Illinois

 

 

 

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